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Unformatted text preview: Scope and Independence Case 1 You complete the audit of Johnson Department Store, and in your opinion, the financial statements are fairly presented. On the last day of the field work, you discover that one of your supervisors assigned to the audit had a small investment in Johnson. Case 2 Joe Svehla CPA was helping a tax client prepare their tax return. The client had collected all the data for the year in a computer file but had not summarized it for lack of accounting know-how. Joe was eager to show his new client his versatility so he imported the data into his laptop, ran the data through Quickbooks, and within 10 minutes had generated financial statements was handing them the printout from his laserjet. The client was duly impressed and asked Joe to install the software on their computer. The client later took those financial statements to a local bank seeking a loan, proudly promoting the fact that these financial statements were produced by their auditor. financial statements were produced by their auditor....
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This note was uploaded on 10/05/2011 for the course ACG 5637 taught by Professor Monikacaushoulli during the Fall '08 term at University of Florida.
- Fall '08